OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. ("BTMU") has obtained the approval from the Central Bank of Myanmar of the Republic of the Union of Myanmar (Myanmar) to open its first branch in Yangon today. BTMU plans to commence its branch operations on April 22.

Myanmar has accelerated its move towards democracy since its transition to civilian rule in March 2011. It has attracted a lot of attention from foreign companies as a new emerging market in Asia, given its large geographical territory, population, labor force, abundant natural resources, and the high growth potential of its domestic demand.

Since establishing an office in Rangoon (Yangon) in 1954, besides providing information including investment environment of Myanmar to customers, BTMU has acted as an agent bank for the Japanese government's ODA yen loans and aids to Myanmar. The soon-to-be opened BTMU Yangon branch will provide full banking services, including deposits, loans, and foreign exchange, to foreign companies and domestic banks operating in Myanmar. BTMU is committed to continuously enhance the services so as to meet the needs of its customers operating in Myanmar and contribute to its economic development.